Tag: Absa

JOHANNESBURG, December 1 – The Steel and Engineering Industries of Southern Africa (SEIFSA) on Friday welcomed the latest preliminary data released by the Absa Purchasing Managers’ Index (PMI), which indicated an improvement in overall business activity in the manufacturing sector. The PMI data released on Friday improved from 47.8 percent in October 2017 to […]

Sello Theletsane On Monday the High Court in Johannesburg issued an interim interdict in favour of 20 Gupta-linked companies against India’s Bank of Baroda, which will keep the companies’ bank accounts open with the bank – for now. Bank of Baroda was also ordered to pay the costs of the application. The judge made it […]

CAPE TOWN, July 5 – Finance Minister Malusi Gigaba has instructed legal counsel to institute judicial review proceedings in a bid to have Public Protector Busisiwe Mkhwebane’s findings and remedial action on Absa Bank and the SA Reserve Bank (Sarb) set aside, his office announced on Wedneday afternoon. In her report titled “Alleged Failure to […]

SOLLY MAKGANOTO Johannesburg, June 28 – The Black First Land First (BLF) movement said that they will start the ABSA pay back the money protest action tomorrow 28 June in Gauteng. According to BLF, pickets will be held in over 20 ABSA branches in and around the province of Gauteng. “The peaceful pickets aim to raise […]

The black radical movement, Black First Land First (BLF), which was at the forefront of bringing the CIEX report into national consciousness, has given ABSA CEO, Maria Ramos, an ultimatum to pay back the money it looted from the reserve bank during apartheid or risk a national shutdown of ABSA. BLF President, Andile Mngxitama, has […]

JOHANNESBURG, June 21 – Barclays Africa and Absa Bank said on Wednesday that Absa has decided to approach the High Court In order to have the Public Protector’s report that the bank must repay more than one billion rand to government reviewed and set aside. Absa joins the South African Reserve Bank (Sarb) which said […]

JOHANNESBURG, June 20 – Former governor of the South African Reserve Bank (Sarb), Tito Mboweni, on Tuesday waged in on the Constitutional amendment into the powers of Sarb as proposed by the Public Protector, saying that they were too fundamental. This comes after Public Protector Busisiwe Mkhwebane on Monday criticised Sarb for failing to recover R1.125 […]

JOHANNESBURG, June 20 – The Banking Association of South Africa (BASA) said on Tuesday that the Public Protector has erred in making comments and recommendations about the Constitutional mandate of the Reserve Bank. This comes after Public Protector Busisiwe Mmkhwebane on Monday ordered remedial action directing Parliament to effect a Constitutional amendment to the powers […]

PRETORIA, June 20 – The African National Women’s League (ANCWL) has welcomed the Public Protector report which instructs the Special Investigating Unit (SIU) to recover misappropriated public funds given to ABSA totalling over R1 billion. On Monday, Public Protector Busisiwe Mkhwebane criticised government and the South African Reserve Bank (SARB) for failing to recover more […]

TSHWANE, June 19 – Public Protector Busisiwe Mkhwebane on Monday criticised government and the South African Reserve Bank (SARB) for failing to recover more than one billion rand from Bankorp Limited/ABSA Bank billions advanced as an “illegal gift” to the Bankorp group, which was bought by ABSA in the early 1990s. “The allegation whether the […]

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